Company Overview - Longxin Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities International as the sole sponsor [1] - The company specializes in high-speed mixed-signal chip design, focusing on data transmission and processing solutions for smart visual terminals, smart automotive, AR/VR devices, and AI and high-performance computing applications [1] - Longxin ranks first in the video bridging chip market in mainland China and is among the top five fabless design companies globally based on projected revenue for 2024 [1] Core Technologies - The company possesses three core technology pillars: high-bandwidth SerDes technology, high-speed protocol processing/data encryption technology, and high-definition video processing and display driver technology [1] - Longxin has expanded its business into interconnect chip areas such as PCIe/CXL/USB Retimer and Switch, leveraging its advantages in SerDes technology [1] Market Growth Projections - The global smart video chip market is expected to grow at a compound annual growth rate (CAGR) of 7.4%, increasing from 109 billion RMB in 2025 to 145 billion RMB by 2029, driven primarily by upgrades in AR/VR, smart automotive, and smart terminal devices [1] - Within this market, video bridging chips and video processing chips are identified as the fastest-growing segments [1] Interconnect Chip Market - The global interconnect chip market is projected to grow at a CAGR of 20.1%, from 139.5 billion RMB in 2025 to 290.4 billion RMB by 2029, largely due to the increasing demand for data processing and visual display in the AI era [2] - The AI computing chip market is expected to reach 273.9 billion RMB by 2029 [2]

Company Overview - Longxin Semiconductor (Hefei) Co., Ltd. is a leading high-speed mixed-signal chip design company focused on building efficient and reliable "data highways" for smart terminals, devices, and AI applications [3] - The company's products enable seamless data transmission and processing, facilitating efficient interaction between computing, storage, and display units [3] - Longxin ranks first in the domestic video bridging chip market and is among the top five fabless design companies globally based on revenue in 2024 [3] Financial Performance - For the fiscal years 2022, 2023, and 2024, Longxin's revenues were approximately RMB 241 million, RMB 323 million, and RMB 466 million, respectively [5] - The profit figures for the same years were RMB 69.21 million, RMB 102.70 million, and RMB 144.41 million, respectively [6] - For the nine months ending September 30, 2024, and 2025, the revenues were RMB 334 million and RMB 389 million, while profits were RMB 93.99 million and RMB 124.51 million, respectively [5][6] Industry Overview - The global smart video chip market is projected to recover in 2024, with a compound annual growth rate (CAGR) of 7.4%, growing from RMB 1,090 billion in 2025 to RMB 1,450 billion by 2029 [8] - Video bridging chips and video processing chips are expected to be the fastest-growing segments, with respective CAGRs of 15.5% and 12.1% from 2025 to 2029 [9] - The AR/VR and smart automotive sectors are anticipated to be the fastest-growing applications, with the AR/VR market expected to grow from RMB 27 billion in 2025 to RMB 118 billion by 2029, reflecting a CAGR of 44.8% [10] Technology and Product Development - Longxin has expanded into a broader interconnect chip field, focusing on the development of key interconnect components such as PCIe/CXL/USB Retimer and Switch [4] - The company's solutions address the bottlenecks in multimodal data transmission in complex computing environments, meeting the stringent requirements for ultra-low latency and high bandwidth in next-generation AI infrastructure and HPC systems [4] Market Trends - The global interconnect chip market is expected to grow from RMB 1,395 billion in 2025 to RMB 2,904 billion by 2029, with a CAGR of 20.1% [12] - AI computing chips are projected to reach RMB 2,739 billion by 2029, driven by the demand for data interconnects in various high-performance computing applications [14]

Group 1: Economic Development and Growth - Shandong Province's 14th Five-Year Plan emphasizes high-quality development, with a focus on Jinan as a key city for economic growth [1][2] - Jinan's GDP reached 10,433.7 billion yuan in the first three quarters of 2025, marking a 5.4% year-on-year increase, with an annual total expected to exceed 1.4 trillion yuan [1] - The city aims to convert policy benefits into tangible development results, contributing significantly to Shandong's high-quality growth [1] Group 2: Innovation and Technology - The plan highlights the importance of nurturing leading technology enterprises and supporting high-tech and small-to-medium enterprises [2] - Jinan's global innovation ranking improved to 27th in the 2025 Nature Index, reflecting significant advancements in research and development [3] - R&D investment in Jinan surpassed 40 billion yuan in 2024, a notable increase from 22.55 billion yuan in 2020, with technology contract transactions reaching 92.61 billion yuan, up 179% [3] Group 3: Green Development - The 2025 Shandong Green Low-Carbon High-Quality Development Conference emphasized the need for a new energy system and ecological protection [6] - Jinan is positioned as a core city for green low-carbon development, integrating these principles into all aspects of economic and social development [6][7] - The city has seen a 23.5% reduction in energy consumption per unit of GDP from 2021 to 2024, with renewable energy generation growing at an annual rate of 25.34% [7] Group 4: Industrial Structure and Modernization - The plan calls for the cultivation of emerging industries and future-oriented sectors, with a focus on robotics as a key area for new productivity [10] - Jinan's industrial strategy includes 13 landmark industrial chains and 34 key industrial chains, covering critical sectors such as electronic information and advanced materials [11] - The city aims to enhance industrial foundations and modernize supply chains, driving significant industrial growth in the coming five years [12]

Group 1 - The emphasis on high-quality development led by high-quality party building, focusing on the integration of technological and industrial innovation to enhance enterprise efficiency and grassroots governance [1] - The visit to Jinan Huichuan Technology Co., Ltd. highlighted the importance of focusing on automation, digitalization, and intelligence in the industrial sector to strengthen core competitiveness and promote industrial cluster development [1] - The discussion with Rongming Microelectronics (Jinan) Co., Ltd. underlined the need for independent innovation and mastery of key core technologies to address industry pain points and lead future industrial development [1] Group 2 - The inspection of the high-quality residential project by Lin Wu emphasized the need to accelerate the construction of a new model for real estate development, optimizing product supply to meet high-quality housing demands [2] - The visit to the Shengfu Baihe Community showcased the importance of community governance led by party building, focusing on resolving conflicts and enhancing community service levels to address urgent public concerns [2] - The call for strengthening safety hazard inspections and training to prevent accidents, ensuring the safety of people's lives and property [2]

Group 1 - The Jinan Municipal Government will participate as a guest city at the 8th Digital China Construction Summit in Fuzhou, showcasing its achievements in digital transformation under the theme "Digital Jinan Empowering the Creation of a Digital Pioneer City" [1][3] - A "Digital Jinan" exhibition hall will be set up from April 28 to May 4 at the Fuzhou Strait International Conference and Exhibition Center, featuring areas dedicated to digital transformation and interactive experiences [3] - The core exhibition area will focus on six sectors: "Digital Industrialization," "Industrial Digitalization," "Data Element Valueization," "Integrated Computing and Networking," "Innovation and Creation Industry Ecosystem," and "Intelligent Digital Government" [3] Group 2 - The "Digital Jinan" sub-forum will be held on the afternoon of April 28, aimed at discussing innovative development ideas and sharing experiences related to comprehensive digital transformation [3] - The Jinan Big Data Bureau will officially release the status of the city's trusted data space construction and related case studies, and will establish a trusted data space ecological alliance [3] - Discussions will take place with leading digital enterprises to promote Jinan's comprehensive digital transformation and the development of the artificial intelligence industry [3]